Published on November 27th, 2018 | by Jose Vasquez0
5 Easy Ways to Differentiate Your Startup Tech Company From Competitors
You need to differentiate your business if you’re going to succeed.
In the startup tech world, competition can be a harsh reality. You probably aren’t the first person to come up with this idea, and in the off chance you were, it won’t be long before another competitor emerges to threaten your territory. If you want to stand out and win a greater market share, you’ll need to think carefully and find a solid way to differentiate your startup from the others around you.
There are several possibilities for doing this:
- Perhaps most obviously, you can go for price. If you and a competitor are targeting the same audience with the same line of products, the competitor with the better price is probably going to win more customers. You can reduce your customer-facing price by reducing your operating expenses or offering bulk discounts.
- You can also differentiate yourself by going after a different set of demographics. If you’re offering the same product, you might be able to target a different age group, gender, or education level and keep your distance from your biggest competitors.
- If you can differentiate based on price, you may be able to differentiate based on quality. Many customers are willing to pay more for a product that offers more features, or one that’s made with better materials. Just make sure you make this clear in your marketing.
- Sometimes, a different brand voice or tone is enough to differentiate yourself. Using a dynamic, more approachable voice in your marketing materials, or one closer in line with your demographics’ core values, can increase your market share.
- Finally, you can offer more robust or friendlier customer service. Extra perks like 24/7 customer support, dedicated agents, and other service-intensive offerings can make you more favorable than a highly similar competitor—even if you’re higher-priced.
If you need help coming up with a differentiation strategy, or you just need to polish your existing brand, contact me today! I’ve helped dozens of entrepreneurs just like you figure out their market strategy, and differentiate themselves from their strongest competitors.